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Trade what you see NOT what you expect

  • #32,801
  • Mar 11, 2010 2:27pm Mar 11, 2010 2:27pm
Quoting tdeu
Good Evening,

Just want to confirm, if my thinking is right or if it was just coincidence.

I went long at 4960 (08:10 GMT) on a pullback this morning, when the 04:00 GMT candle (the one before the London opening) closed above the magenta PA line.

Is my thinking right?

Cheers

tdeu
Looks like a great trade to me, your entry was a little better than mine.
Please ask questions and share your experiences with us all!
  • #32,802
  • Mar 11, 2010 2:35pm Mar 11, 2010 2:35pm
thanks bkg

eyeing EJ for a short too

hesitant with the strong behaviour it shows

threw in another viagra after the close below the 5 and went short at 123.87 SL above 124

tdeu
  • #32,803
  • Mar 11, 2010 2:35pm Mar 11, 2010 2:35pm
I will put this out here again, no response from anyone yet.

Favor PLEASE!!
Are there any of my buddies out there that can design an EA that alerts when a candle closes thru the 35 ma and moves beyond that close 35 pips? I would like to have an EA for that and see how it works out.
Please ask questions and share your experiences with us all!
  • #32,804
  • Mar 11, 2010 2:39pm Mar 11, 2010 2:39pm


EJ short - just in time

covered at 123.77 and moved SL to 95

tdeu
  • #32,805
  • Mar 11, 2010 2:45pm Mar 11, 2010 2:45pm
I use MAs_EO_M15.mq4 from sam101

it alerts, if a candle closed through the 35/50

wait for the alert and set a price alert 35 pips lower/higher than the close in MT

tdeu

Quoting bkg102665
I will put this out here again, no response from anyone yet.

Favor PLEASE!!
Are there any of my buddies out there that can design an EA that alerts when a candle closes thru the 35 ma and moves beyond that close 35 pips? I would like to have an EA for that and see how it works out.
  • #32,806
  • Mar 11, 2010 2:46pm Mar 11, 2010 2:46pm
Quoting bkg102665
I will put this out here again, no response from anyone yet.

Favor PLEASE!!
Are there any of my buddies out there that can design an EA that alerts when a candle closes thru the 35 ma and moves beyond that close 35 pips? I would like to have an EA for that and see how it works out.

bkg, what platform do you use?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #32,807
  • Mar 11, 2010 2:48pm Mar 11, 2010 2:48pm
Quoting MarcVUM
bkg, what platform do you use?
interbank mt4
Please ask questions and share your experiences with us all!
  • #32,808
  • Mar 11, 2010 2:50pm Mar 11, 2010 2:50pm
looks like GBPJPY could dive soon too

hangman on m15
  • #32,809
  • Mar 11, 2010 2:53pm Mar 11, 2010 2:53pm
Quoting tdeu
looks like GBPJPY could dive soon too

hangman on m15
I had rather see it than hear tell of it...lol
Please ask questions and share your experiences with us all!
  • #32,810
  • Mar 11, 2010 2:54pm Mar 11, 2010 2:54pm
Quoting bkg102665
interbank mt4
sorry, can't do it. i'm on ToS.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #32,811
  • Mar 11, 2010 2:56pm Mar 11, 2010 2:56pm
Quoting MarcVUM
sorry, can't do it. i'm on ToS.
thanks just the same
Please ask questions and share your experiences with us all!
  • #32,812
  • Mar 11, 2010 4:09pm Mar 11, 2010 4:09pm
Quoting macc
Hi Occam and welcome to the thread.

In the absence of EO's input I'll chip in with my 2 pence (although Deputy Dawg's gave an excellent take on things)

Looks like you've got the 35 pip zone concept correct although I would just clarify that it's the 35 S MA (simple ma not exponential).

Regarding your questions:

1. The yellow ellipse trade you highlighted is a valid trade in my opinion. When she's ranging either side of the 15m ma's any PA at the range extremes doesn't necessarily send her back "across" the ma's. She could stop and reverse...
Thanks for the detailed reply Macc. Good advice. Big woops on my part labelling the 35 SMA incorrectly ! Thanks for letting me know, I've put in an edit and note on the original post. The MAs on my chart are correct luckily, just labelled wrong.

My screens are getting oodles of face time so something should sink in sooner or later. In fact I think they're getting sick of staring back at me all day!
  • #32,813
  • Edited 8:38pm Mar 11, 2010 8:24pm | Edited 8:38pm
Thanks for all the responses to my first post. Greatly appreciated.

A second question on the 35 pip zone after PA crossing the 35SMA. The chart below shows the initial 35 pip zone. Price breaks out makes a new high and then comes back crosses the 35 SMA (aqua) and 50 EMA (black) at the same time (which is a long signal). It hesitates for a few candles and then we get the last cross of the 35SMA. This theoretically creates a new zone in which we should be favouring shorts.

http://i228.photobucket.com/albums/e...35smazone2.gif

At the red ellipse we have a hanging man candle within the new 35 pip zone. PA is also near resistance (green line) which it has failed to close above for a long while now. Is this the proper use of the zone and should we be taking this short signal? My only worry was the bounce off the 50SMA (green) looked strong, no wicks penetrated it. But the resistance looked strong as well! I think the next white candle close well above the resistance and outside the new 35 pip zone woul have scared me me out for a loss, although a 30+ pip stop a few pips above the last high would have kept me in the trade.

Is my understanding of the zones still correct? Is the second zone more important or the strong bounce off the 50SMA more important to consider when setups like this occur?

Thanks

Occam
  • #32,814
  • Mar 12, 2010 2:39am Mar 12, 2010 2:39am
[quote=occamsrazors;

Is my understanding of the zones still correct? Is the second zone more important or the strong bounce off the 50SMA more important to consider when setups like this occur?

Occam[/quote]

Morning occam,as I understand it the 35pip zone applies to when a candle has crossed through the 35/50 ma's and not to when price is trading happily above (or below) the other ema's (ie when it's trending away happily and just doing it's 1 or 5 o clock business).I might be totally wrong on this and probably macc will give you a definative answer on this.Just as a further point though check your 1hr chart for the same timeframe and you will see that at 2pm gmt price had been well supported with the 21 and 62 ema's,so as i said yesterday,you just can't beat trading with the trend.
  • #32,815
  • Mar 12, 2010 3:17am Mar 12, 2010 3:17am
Good morning DD. I hope you are well today
" When the ship starts to sink, don't just pray. JUMP "
  • #32,816
  • Mar 12, 2010 3:30am Mar 12, 2010 3:30am
Quoting Deputy Dawg
Morning occam,as I understand it the 35pip zone applies to when a candle has crossed through the 35/50 ma's and not to when price is trading happily above (or below) the other ema's (ie when it's trending away happily and just doing it's 1 or 5 o clock business).I might be totally wrong on this and probably macc will give you a definative answer on this.Just as a further point though check your 1hr chart for the same timeframe and you will see that at 2pm gmt price had been well supported with the 21 and 62 ema's,so as i said yesterday,you just...
I was wondering if that might be the case DD. It did seem more of a bounce off the 35MA with the MAs at 1 o'clock and I wasn't sure if the zone applied any more in that case (which was the question I was trying to ask, but not very well!).

Great, thanks.
  • #32,817
  • Mar 12, 2010 3:43am Mar 12, 2010 3:43am
Morning Gladis. I note that you are 14 posts more experienced today
  • #32,818
  • Mar 12, 2010 3:54am Mar 12, 2010 3:54am
Good morning Occam. I hope you are well today . I just witter on like a blonde and the post count goes up
" When the ship starts to sink, don't just pray. JUMP "
  • #32,819
  • Mar 12, 2010 4:12am Mar 12, 2010 4:12am
Quoting tdeu
Hi Macc,

Can you please elaborate a little more on this.

Cheers

Thomas
Morning all.

Hi Thomas,

I was really just saying that the principle of the +/- 35 pip zone (the rules if you like) are straight forward and clearly defined by EO in his intraday worksheet, but it was only after plenty of time watching it play out on the charts that I was able to fully appreciate it’s significance.

For me, correct understanding of what PA is saying (whether that’s within the +/- 35 pip zone or at any s/r level), where that PA is occurring, and how that then relates to what the higher time frames are saying, is key to finding the best entries and exits.

I find the 15m 35sma is still a great way to quickly orientate myself on the charts (is price above or below). The +/- 35 pips is then just an extension zone either side of the ma.

When price is consolidating/ranging as it often can between sessions (Asia, London, U.S) or at significant areas of S/R, the +/- 35 pip concept gives me some clearly defined “rules” to focus on in an attempt to best position myself for the following breakout from consolidation.

Macc
  • #32,820
  • Mar 12, 2010 4:14am Mar 12, 2010 4:14am
Good morning macc. I hope you are well today
" When the ship starts to sink, don't just pray. JUMP "
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